Low Voltage Switchgear Market 2020: COVID-19 Business Impact, Key Vendors Analysis, Industry Segments, Developments, Opportunities, Future Plans and Forecast 2023

Market Research Future published a research report on “Low Voltage Switchgear Market Research Report- Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Low Voltage Switchgear Global Market - Overview

The low voltage switchgears are combination of several electrical components such as circuit breakers, transformers, protection panels and disconnections. These are deployed in power circuits for effective distribution of power across various verticals.

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Favourable government regulations for integration of sustainable energy sources and expansion of micro-grid networks are driving the market. The rising demand for renewable power generation and growth in construction and developments are fuelling the market growth. Increasing demand for establishment of distribution networks in developing regions are impelling the market growth.

Key Players

Some of the prominent players in the global Low Voltage Switchgear Market: Eaton Corporation Plc. (Ireland), General Electric (U.S.), Mitsubishi Motors Corporation (Japan), Hitachi, Ltd. (Japan), Schneider Electric SE (France), Siemens AG (Germany), Fuji Electric Co., Ltd. (Japan), Hubbell Incorporated (U.S.), Rittal (Germany), ABB (Switzerland) among others.

Low Voltage Switchgear Global Market - Segmentation

• On the basis of protection, the segment is classified into circuit breaker, and fuse. The circuit breaker is further segmented into ACB, MCCB, MCB, MSP and MPCB. The fuse is sub-segmented into Fuse-switch disconnectors, switch disconnectors with fuse and others
• On the basis of product, the segment is divided into fixed mounting, plug-in, and withdrawable.
• On the basis of rated current, the segment is classified into less than 1000 Ampere, 1001 to 5000 Ampere and more than 5000 Ampere.
• On the basis of rated voltage, the market is segmented into less that equal to 250 Volt, 251 to 750 Volt and more than 750 Volt
• On the basis of installation, the market is segmented into indoor and outdoor
• On the basis of application, the market is segmented into substations, distribution, power factor correction, sub-distribution, and motor control.
• On the basis of region: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Low Voltage Switchgear Global Market - Regional Analysis

The global low voltage switchgear market is studied for North America, Europe, Asia Pacific, and Rest of the world. Asia pacific is expected to hold major market share through the forecast period. The up gradation of aging electrical grid infrastructure and increase in electricity demand are driving the market in this region. The rise in usage of electricity across untapped economies in developing countries is fuelling the market growth. North America is expected to hold significant market share through the forecast period. Rising demand for cost effective products and supporting government regulations are driving the market in this region.

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Industry News

April, 18 Russelectric, a leading manufacturer of power control systems and automatic transfer switches, won order to supply paralleling switchgear to supply Charlotte Water for their water and wastewater treatment facilities. The switchgear helps in monitoring the incoming utility power. In the event of utility power failure, it benefits in shifting of critical emergency backup power to their facility in Charlotte, NC.

April, 18 - Schneider Electric SE European Multinational Corporation launched Premset which is suitable for low and medium power applications. The innovative compact and modular vacuum switchgear is built with 2SIS technology and allows network operators to increase safety and efficiency while minimizing downtime.

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Release ID: 88962423